The pan-European STOXX 600 gained 0.3 percent, in line with euro zone stocks and blue-chips.

Dixons Carphone shares plummeted up to 29 percent after the mobile phone retailer downgraded expectations for full-year profit, reflecting tougher conditions in the mobile market as customers hold on to handsets for longer.

Dixons Carphone was the worst-performing among European retail stocks so far this year, even before today’s decline wiped a third off its market value.